Mike Ashley’s Frasers Group is frontrunner to buy Knightsbridge-headquartered department store chain

• Can Harvey Nichols find its way back to being Ab Fab again?

Harvey Nichols has warned that it will not be able to survive another year without new investment, as bidders for the Knightsbridge-headquartered department store chain circle.

The retailer’s Hong Kong-based owner, Dickson Poon, put it up for sale in June, with Mike Ashley’s Frasers Group aiming to buy it for about £40m.